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Investing.com-- Shares of Xpeng Inc (HK:9868) (NYSE:XPEV) surged on Thursday after the Chinese electric vehicle maker reported robust first-quarter performance and an optimistic outlook for the upcoming quarter, driven by strong deliveries and improving margins.
The company’s first-quarter revenue jumped 141.5% year-over-year to RMB15.81 billion ($2.20 billion), as vehicle deliveries skyrocketed 330.8% to 94,008 units, Xpeng reported on Wednesday.
For the second quarter, XPeng expects to deliver between 102,000 and 108,000 vehicles, representing a year-on-year increase of approximately 237.7% to 257.5%.
Revenue is projected to grow between 115.7% and 130.5%, reaching RMB17.5 billion to RMB18.7 billion.
Hong Kong-listed shares of the company jumped as much as 10.2% to HK$85.45, their highest level since early April.
U.S.-listed shares closed 13% higher on Wednesday.
CEO Xiaopeng He credited the results to a "strong product cycle" and "accelerated adoption of physical AI technologies."
The company also highlighted the launch of its 2025 X9 flagship model in April, equipped with Turing AI Smart Driving, as a key growth driver.